INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

ROSHN group opens sale for SEDRA phase 3 units in Riyadh

RIYADH, SAUDI ARABIA - ROSHN Group, one of the Public Investment Fund (PIF) subsidiaries, announced on Sunday the opening of...

Business

IsDBI, BIBF join hands to enhance global Islamic finance expertise

MANAMA, BAHRAIN - The Bahrain Institute of Banking and Finance (BIBF) and the Islamic Development Bank Institute (IsDBI) have decided...

Business
Economy

S&P devises new credit rating scale for Saudi Arabia

S&P Global Ratings has introduced a new national credit rating scale for Saudi Arabia in response to a growing interest...
  • The new scheme will help identify the creditworthiness of local loan takers, and comes as Saudi Arabia pursues policies of economic diversification
  • S&P said the rating scale will be complementary to the one used globally, with the methodology “generally the same” as the international-focused system
Business

ADNOC to invest $127bn in 2022-2026

The company announces a significant rise in oil and gas reserves.
  • ADNOC plans to bring $43 billion back into UAE economy through ICV program.
  • ADNOC's ICV program has driven AED105 billion back into the UAE economy and created over 3,000 jobs for UAE nationals.
Geostrategy

OPEC marks fifth anniversary of historic Vienna Agreement

The Organisation of the Petroleum Exporting Countries (OPEC) marked its 5th anniversary of the historic ‘Vienna Agreement’ on Tuesday. The...
  • The agreement led to the Declaration of Cooperation (DoC) between OPEC countries and leading non-OPEC oil-producing nations.
  • The Conference, where the pact was signed, saw OPEC Member Countries reinforce their efforts to overcome a then-unprecedented oil market downturn.
Business

dnata named Ground Support Services Provider of the Year for eleventh time

For the 11th time, dnata has been named Ground Support Services Provider of the Year at the 2021 Aviation Business...
  • The company offers ground handling and cargo services at over 90 airports in 15 countries.
  • As part of infrastructure growth, dnata broke ground on the second phase of the dnata City East project at London Heathrow.
Economy

FCSC documents UAE’s success since discovery of oil in 1950s

In its new report to be published soon, titled "The UAE: Data Documenting the Journey until 2020", the Federal Competitiveness...
  • The report highlighted a significant rise in the country’s GDP from AED58.3 billion in 1975 to over AED1.3 trillion in 2020
  • The contribution of non-oil sectors to GDP surged from 43 percent in 1975 to 83 percent in 2020
The Archives

The union is advantageous: Sheikh Zayed

The union amongst Emirates is just fine despite being a new experience for us. We did not adopt our neighbors’...
  • The union has produced welfare that no soul can ever deny, the Founding Father of the UAE had said.
  • We must work hard to upgrade our achievements, fill gaps, complete deficiencies to overcome errors and achieve a stronger union, he had highlighted
Business

GACA, Cisco sign MoU

The MoU will enhance the scope of digital transformation.
  • The memorandum will enhance the scope of cooperation in technology and digital transformation in the civil aviation sector
  • The GACA is keen to collaborate with international companies specializing in advanced technological fields to keep pace with the latest developments
Business

Emirates, Al Jazeera among 44 GCC brands to win World Branding Awards 2021-2022

A total of 44 GCC brands, which include Emirates, Aljazeera, and ADNOC Distribution, figure in the 2021-2022 World Branding Awards....
  • From the GCC region, Saudi Arabian brands win the maximum number of awards, followed by Bahrain.
  • Al Jazeera and Ooredoo among the six winning brands from Qatar.
Economy

ATRC awards $10 million in research funding to 53 R&D projects

Abu Dhabi’s Advanced Technology Research Council (ATRC) on Tuesday announced that it has awarded AED40 million ($10 million) in research...
  • Grant funding is allocated to entities in eight key sectors such as aerospace and energy.
  • The awardees were picked from 370 proposals in ASPIRE Award for Research Excellence and ASPIRE Young Investigator Award.
Business

Egypt to levy 10% customs tax on import of mobile phones

Egypt has decided to levy a ten percent customs tax on the import of mobile phones in order to promote...
  • Egypt’s Minister of Finance explained that the amendments aim to encourage investment, maximize production facilities
  • The amendment of some categories of customer tariffs comes in light of the conclusions reached by the Higher Council of Customs Tariffs in Egypt

ROSHN group opens sale for SEDRA phase 3 units in Riyadh

RIYADH, SAUDI ARABIA - ROSHN Group, one of the Public Investment Fund (PIF) subsidiaries, announced on Sunday the opening of...
Business

Company News

Latest News

E-marketing reduce prices of poultry products by up to 20% in Saudi

Riyadh, Saudi Arabia--Saudi Poultry Producers Committee has said that use of some applications in marketing has helped consumers obtain products...
Business

Al Sagr to cut capital

It has sought shareholders' nod for 65% capital reduction.
Business

Almarai posts profit in Q3

The Saudi firm's net profit rose 10% to $372m.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

e& forays into the metaverse

The move marks a significant achievement for the Group
  • The move marks a significant achievement in the Group’s transformation journey to a global technology and investment conglomerate
  • Metaverse technology is in the early incubation stages, given that it needs high-bandwidth and low-latency communications to work at scale
Business

French energy giant offers pay talks in bid to end fuel strike

Vehicle owners have faced increasingly long waits to fill up after two weeks of strikes by workers demanding higher wages...
  • It runs a network of around 3,500 filling stations in France, nearly a third of the total, and most of them are low on fuel or even empty for some types.
  • Currently three of Total's refineries are blocked, including its largest, in Normandy, as well as a fuel depot near Flandres in the north.
Geostrategy

Germany investigates ‘sabotage’ on its rail framework

Rail operator Deutsche Bahn blamed the travel disruptions on "sabotage", while Transport Minister Volker Wissing spoke of "a targeted and...
  • Important communications cables were cut at two sites on Saturday, forcing rail services in the north to be halted for three hours.
  • Police have said the investigation into Saturday's incident is still wide open and they have not publicly mentioned any suspects.